In the vast universe of consumer borrowing, reverse mortgages get little respect. They cause the same kind of eyebrow lift as pawn tickets, car title loans, rent-to-own TV sets and leased car tires. When I write about them, the next days mail has chiding notes suggesting that I failed to tell the gruesome downside of reverse mortgages.
I plead guilty. So let me make a promise: In 2016 there will be a column about the downside of reverse mortgages.